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-   -   Investor Loses $1.13 Billion On Bear Stearns (https://gfy.com/showthread.php?t=815992)

Vendot 03-18-2008 04:29 PM
Investor Loses $1.13 Billion On Bear Stearns
 
http://www.bloomberg.com/apps/news?p...=patrick. net

The top investor, Joseph Lewis (a fellow Londoner), lost $1.13 Billion after paying $107 per share and buying 9.7% of the bank. He lost half his fortune.

There's no UK equivalent for the US expression "well dayum" but.... if ever there was a justification for diversification, this is it!

Drake 03-18-2008 04:32 PM
Ouch....

crockett 03-18-2008 04:34 PM
As long as the stock is still active, he didn't lose the money. It will eventually come back. He only loses it if he sells while it's down, or they kill the stock. You never make or lose anything in the stock market until u cash out.

notoldschool 03-18-2008 04:37 PM
That hurts. Kinda like a bad divorce.

Vendot 03-18-2008 04:37 PM
Quote:
Originally Posted by crockett (Post 13937366)
As long as the stock is still active, he didn't lose the money. It will eventually come back. He only loses it if he sells while it's down, or they kill the stock. You never make or lose anything in the stock market until u cash out.
True....... but it must be painful as hell.

Vendot 03-18-2008 04:39 PM
Quote:
Originally Posted by notoldschool (Post 13937376)
That hurts. Kinda like a bad divorce.
Well in a divorce the wife normally gets half and he has lost the value of half his fortune so i guess it could be a good analogy.

Jens Van Assterdam 03-18-2008 04:42 PM
wasnt me!

Iron Fist 03-18-2008 04:43 PM
You feel sorry for this guy? He makes more in one second than I do in a year... who cares. Seriously.

L-Pink 03-18-2008 04:44 PM
Let's assume Lewis researched his investment before buying 11 million shares, this emphasizes how well BearStearn's books were cooked.

chuvii 03-18-2008 04:44 PM
falling down for him? sure, he's alive :)

Vendot 03-18-2008 04:44 PM
Quote:
Originally Posted by sharphead (Post 13937404)
You feel sorry for this guy? He makes more in one second than I do in a year... who cares. Seriously.
Damn.... you're right, because he earns more than a poxy lowlife like you, we shouldnt give a shit :1orglaugh

Chio 03-18-2008 04:51 PM
He made his fortune in Forex. Chance favors the prepared mind.

SomeCreep 03-18-2008 04:58 PM
Quote:
Originally Posted by vendot (Post 13937340)
http://www.bloomberg.com/apps/news?p...=patrick. net

The top investor, Joseph Lewis (a fellow Londoner), lost $1.13 Billion after paying $107 per share and buying 9.7% of the bank. He lost half his fortune.

There's no UK equivalent for the US expression "well dayum" but.... if ever there was a justification for diversification, this is it!
I love capitalism.

woj 03-18-2008 05:06 PM
Quote:
Originally Posted by crockett (Post 13937366)
As long as the stock is still active, he didn't lose the money. It will eventually come back. He only loses it if he sells while it's down, or they kill the stock. You never make or lose anything in the stock market until u cash out.
Dude, he lost it, it will now take 20 years to get back to 107 from where it's now...

directfiesta 03-18-2008 05:51 PM
Quote:
Originally Posted by crockett (Post 13937366)
As long as the stock is still active, he didn't lose the money. It will eventually come back. He only loses it if he sells while it's down, or they kill the stock. You never make or lose anything in the stock market until u cash out.
Tell that to the bank if you borrowed on them ( margin )....

This guy probably didn"t because he is rich ( well half rich ..), but for most, the phone would have been ringing at 9:00 AM, and it wouldn't have been at the whitehouse ....


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